Call Start: 04:10 January 1, 0000 4:32 AM ET
Pan American Silver Corp. (NYSE:PAAS)
Mining Forum Europe 2025 Conference
April 01, 2025 04:10 AM ET
Company Participants
Michael Steinmann - President and Chief Executive Officer
Conference Call Participants
Cailey Barker - Investment Advisor
Cailey Barker
Strategies post-Yamana transaction was basically to monetize non-core assets. You and your team have done a fantastic job of doing that over the last, I would say, year-and-a-half, where you've received around $990 million from those asset sales. And you use those proceeds to pay off your high-cost debt and reduce your care and maintenance cost.
Question-and-Answer Session
Cailey Barker
Michael, are we expecting to see more of these kind of transactions going forward?
Michael Steinmann
Yes, and good morning, everyone. Very active time, yes, on the divesting side. As you know, we had a lot of assets after the transaction. Yamana had a lot of smaller assets, obviously, big ones. The first one that kind of went out of the door was, the 56% of MARA that we owned in Argentina that kind of went to Glencore. Glencore now owns 100% of that project.
We sold projects to Zijin. We sold projects on our mines to Zijin to Rio Tinto, et cetera. So, some really high-profile partners. By the way, we kept the royalty on each of the transaction. I do that always. Every asset we sell, we always create a royalty at that time, and we keep that. And we have another royalty portfolio now for about probably about 9 or 10 new royalties. It's still in our -- still in the Company. I didn't do anything with it yet.
That’s some smart things you can do with royalties. You maybe recall that last time we had a royalty portfolio, which I created in the
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